16355 Category. 1  Wood & Nylon Tip Drum Sticks (407) 2  Drum Stick Pre-Packs (69) 3  Marching Drum Sticks (56)  Concert Drum Sticks 1  (19) Timbale Drum Sticks 2  (16) Composite Drum Sticks  (11)
The key difference between the law of diminishing returns and decreasing returns to scale is that the. former is in the short run, where at least one factor of production is ï¬xed, whilst the latter is in the long. run, where all factors of production/ inputs can be varied. As seen on the diagram below, long run.
Richard A. Bilas describes the law of diminishing returns in the following words: If the input of one resource to other resources are held constant, total product (output) will increase but beyond some point, the resulting output increases will become smaller and smaller.